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Third-Quarter Industrial Vacancy Rate at 6.03%, up from 5.53%

CHARLOTTE-Net absorption in 2000 was one million sf versus 2.19 million sf in 1999, reports Commercial Carolina Corp. The vacancy level is expected to creep higher as 918,000 sf of new product enters the market this year.

By Robert Anthony | Updated on January 03, 2001

CHARLOTTE-The third-quarter 2000 vacancy level in metro Charlotte’s 108.5 million-sf inventory of industrial space is at 6.03%, up from 5.53% out of a total 106.1 million sf in the comparable 1999 period, according to a quarterly report by Commercial Carolina Corp. Vacancies are expected to grow in 2001 as 918,000 sf of new product enters the market.

Net absorption for all of 2000 was one million sf versus 2.19 million sf in 1999. The figures represent vacancies for all industrial buildings of more than 10,000 sf, including owner-occupied space. For multi-tenant warehouse space, a more specific industry indicator, vacancy declined to 8.31% for the third quarter versus 8.7% a year earlier.

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